A sexual act much similar to the Houdini in which a male is riding a girl doggie style and proceeds to pull out and spit on her back giving her the illusion hes done. Then, rather than simply cuming on her, the male squirts onto his hand and yells "Heisman!" while stiff-arming the girl in the face with the sticky hand in the classic Heisman pose.

"To celebrate our football team's victory last night I decided to Heisman your girlfriend rather than the boring old Houdini"

A rejection given to a member of the opposite sex who you do not find physically attractive. You may give the heisman for many reasons, including, the person in question has std's, the person in question is obese, the person in question is goal-less, the person in question is just a repulsive human being physically and mentally. This technique is usually given by the female to the male.

Wow, look at that dough boy over there.
I Think he wants to go out with you.